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Wage trends and deflation risks in Germany and Europe
Lohnentwicklung und Deflationsrisiko in Deutschland und Europa
[working paper]
Corporate Editor
Wirtschafts- und Sozialwissenschaftliches Institut in der Hans-Böckler-Stiftung
Abstract "Based on a post-Keynesian model of the relationship between wages, prices and employment, this paper begins by studying the extent to which unit labour cost trends have been responsible for disinflation and deflationary tendencies in Germany and Europe. Thereafter, the reasons for the deflationary ... view more
"Based on a post-Keynesian model of the relationship between wages, prices and employment, this paper begins by studying the extent to which unit labour cost trends have been responsible for disinflation and deflationary tendencies in Germany and Europe. Thereafter, the reasons for the deflationary development of unit labour costs in recent years, in particular in Germany, are analysed. Finally, the impact of deflationary wage policies on German and European stagnation are discussed and it is concluded that the excessive wage restraint in Germany not only exacerbates stagnation and deflationary tendencies in Germany but might also have a deflationary impact on the other EMU countries." (author's abstract)... view less
Keywords
price; EU; monetary union; labor market trend; wage policy; wage; Federal Republic of Germany; development; deflation; monetary policy; collective bargaining; labor costs
Classification
Economic Policy
Method
empirical; quantitative empirical
Document language
English
Publication Year
2004
City
Düsseldorf
Page/Pages
29 p.
Series
WSI-Diskussionspapier, 124
Handle
https://hdl.handle.net/10419/21566
Status
Published Version; reviewed
Licence
Deposit Licence - No Redistribution, No Modifications
Data providerThis metadata entry was indexed by the Special Subject Collection Social Sciences, USB Cologne